Nesdo Sambridha Laghubitta Bittiya Sanstha Limited (NESDO) has taken the initiative to distribute a 15% cash dividend directly to the bank accounts of its shareholders and has encouraged them to convert their shares into dematerialized form.
The company convened its 4th Annual General Meeting (AGM) for the fiscal year 2078/79 on the 26th of Ashwin, 2080. During this AGM, NESDO approved a 15% dividend, which includes applicable taxes, for the fiscal year 2078/79. The disbursement of this dividend into the bank accounts of shareholders commenced on the 29th of Ashwin, 2080.
In addition to this, NESDO has made a specific request to its shareholders, particularly those who have not updated their bank information within the Demat account, to consider converting their shares into dematerialized form. This move aligns with modern financial practices and can streamline the dividend distribution process.
Moreover, NESDO has outlined a requirement for eligible investors who have obtained loans against the company’s shares before the book closure date. To be eligible for dividend payment, these investors must provide a No Objection Letter from their respective lending institutions.
By introducing these measures, NESDO is aiming to enhance the efficiency and transparency of its dividend distribution process while encouraging shareholders to modernize their shareholding by dematerializing their shares.